24 Mar 2017 12:23
24 March 2017
Rose Petroleum plc
("Rose", the "Company" or the "Group")
Grant of Options under incentivisation scheme
Rose (AIM: ROSE), the AIM quoted natural resources business, having consulted with its advisers, announces the grant of options over ordinary shares of 0.1p each in the Company ("Ordinary Shares") under the Company's existing employee share option schemes ("Options"). A total of 245,000,000 Options have today been issued to various directors and employees of the Company.
The Options will vest in three equal annual tranches, on the first, second and third anniversary from today's date. Each Option is exercisable into one Ordinary Share and, once vested, can be exercised up until the tenth anniversary of today's date. The Options are exercisable at a price of 0.14p per share and only after the mid-market Ordinary Share price remains at 0.175p (a 25% premium to the exercise price) or higher for 10 consecutive trading days.
Of the 245 million Options issued today, 150 million have been issued to certain directors of the Company as set out below, and the other 95 million Options have been issued to employees of the Company. Details of the Options granted to directors are outlined in the table below:
Name of Director | Number of Options granted | Total number of options over Ordinary Shares now held |
Matthew Idiens | 70,000,000 | 111,800,000 |
Chris Eadie | 50,000,000 | 60,000,000 |
Kelly Scott | 15,000,000 | 25,933,333 |
Kris Hefton | 15,000,000 | 31,000,000 |
The Options granted today represent approximately 6.5 per cent of the Company's current issued share capital. In total 388,283,333 Options are now outstanding, representing approximately 10.3 per cent of the Company's current issued share capital.
Philip Jeffcock, Chairman and Independent Director, commented: "Over the past eighteen months we have implemented a cost cutting programme across the Group. However, given the significant amount of activity that is currently taking place across the Group it is essential to incentivise and motivate the team to ensure that we deliver on our key objectives and I hope these proportionate and well deserved option awards will go a long way towards helping us achieve that."
Enquiries:
Matthew Idiens (CEO) Chris Eadie (CFO)
| Rose Petroleum plc | Tel: +44 (0) 20 7225 4595 Tel: +44 (0) 20 7225 4599 |
Jeremy Porter / James Reeve / Liz Kirchner
| Allenby Capital Limited
| Tel: +44 (0) 20 3328 5656
|
James Pope / Ben Turner
| Turner Pope Investments | Tel: +44 (0)20 3621 4120 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Matthew Idiens | ||||
2. | Reason for the Notification | |||||
a) | Position/status | CEO | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Rose Petroleum plc | ||||
b) | LEI | n/a | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument |
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Identification code | GB00B013M672 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: Aggregated volume Price | n/a | ||||
e) | Date of the transaction | 24 March 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Christopher Eadie | ||||
2. | Reason for the Notification | |||||
a) | Position/status | CFO | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Rose Petroleum plc | ||||
b) | LEI | n/a | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument |
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Identification code | GB00B013M672 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: Aggregated volume Price | n/a | ||||
e) | Date of the transaction | 24 March 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Kelly Scott | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Non-executive director | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Rose Petroleum plc | ||||
b) | LEI | n/a | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument |
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Identification code | GB00B013M672 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: Aggregated volume Price | n/a | ||||
e) | Date of the transaction | 24 March 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Kristopher Hefton | ||||
2. | Reason for the Notification | |||||
a) | Position/status | COO | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Rose Petroleum plc | ||||
b) | LEI | n/a | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument |
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Identification code | GB00B013M672 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: Aggregated volume Price | n/a | ||||
e) | Date of the transaction | 24 March 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Ty Watson | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Rose Petroleum plc | ||||
b) | LEI | n/a | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument |
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Identification code | GB00B013M672 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: Aggregated volume Price | n/a | ||||
e) | Date of the transaction | 24 March 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Ignacio Elices Teja | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Rose Petroleum plc | ||||
b) | LEI | n/a | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument |
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Identification code | GB00B013M672 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: Aggregated volume Price | n/a | ||||
e) | Date of the transaction | 24 March 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Luis Francisco Perez Agosttini | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR | ||||
b) | Initial notification/Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Rose Petroleum plc | ||||
b) | LEI | n/a | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument |
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Identification code | GB00B013M672 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: Aggregated volume Price | n/a | ||||
e) | Date of the transaction | 24 March 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||